EMERGE Achieves Single-Day GMS Record of $1 Million, Total GMS Over 3x Prior Year During Black Friday-Cyber Monday Period
- EMERGE sold a record $2.7 million GMS(1) during the 2021 Black Friday-Cyber Monday ("BFCM") period, more than tripling GMS during the comparable 2020 BFCM period
- A new single-day record for EMERGE was achieved on Cyber Monday, with GMS(1) of approximately $1 million, exceeding management's expectations
- Multiple brands achieved strong double-digit GMS(1) growth year over year during the BFCM period
TORONTO, Dec. 1, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a leading acquirer and operator of niche e-commerce marketplaces and subscription brands, today announced record Gross Merchandise Sales ("GMS") (1) during the Black Friday-Cyber Monday period of approximately $2.7 million, with the Company seeing its single largest day in Company history on Cyber Monday (November 29) with approximately $1 million GMS(1).
"These outstanding BFCM results, including our first $1 million GMS day, are the culmination of the team's efforts all year round. BFCM exceeded management's expectations on a number of fronts, and we are excited to carry this momentum through the balance of the year," commented Ghassan Halazon, Founder and CEO, EMERGE.
WholesalePet.com, EMERGE's most recent acquisition, led the way with its largest total GMS(1) during BFCM, with approximately $1.2 million GMS, or 44% of total GMS, while JustGolfStuff achieved the highest growth rate for the period at over 100%, year over year.
In addition, a number of other EMERGE brands saw double digit organic growth during BFCM, including UnderPar Canada, BattlBox.com and WagJag.
"We were particularly pleased to see UnderPar Canada deliver strong year over year growth during BFCM, as the vast majority of our best golf course partners returned to the platform in time for their pre-season holiday sales. While it is still early to tell what these positive developments will mean for 2022, we are encouraged by the renewed traction with UnderPar as of late."
Following the acquisitions of BattlBox Group and WholesalePet.com earlier in Q4, EMERGE remains on track to achieve record GMS, revenue and positive Adjusted EBITDA growth in Q4-2021, and for 2021 overall.
"Earlier this month, we announced that EMERGE had comfortably eclipsed $100 million in GMS, and to now be able to share that we have achieved our first $1 million GMS day is special, capping a historic month for the Company, our staff, merchant partners, customers, and valued investors," continued Halazon.
(1) Non-GAAP Financial Measure. Refer to section "Non-GAAP Financial Measures" below for additional information. |
About EMERGE
EMERGE (TSXV: ECOM) is a leading acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses some of North America's most coveted online destinations including WholesalePet.com, trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarnivoreClub.com, WagJag.com, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more visit https://www.emerge-commerce.com/
Cautionary notice
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Non-GAAP Measures
This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales ("GMS") should not be construed as alternatives to revenue determined in accordance with IFRS. GMS does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.
GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance.
Notice regarding forward-looking statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's filing statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE EMERGE Commerce Ltd.
James Bowen, CFA, EMERGE Commerce Ltd., 416-519-9442, [email protected]
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